Friendly Societies Act, 1956 (Act No. 25 of 1956)Chapter VII : General and Miscellaneous48B. Protection of moneys due on death of member |
Moneys due by way of benefit in terms of the rules of a friendly society on the death of a member who was a member of the society for a period of at least three years, and any money or other asset protected under section 48A shall, to the extent of such protection, not be available on the death of the member for the payment of his creditors as against the claim of —
| (a) | his surviving spouse, or his parent, child or stepchild, under his will; or |
| (b) | his surviving spouse or his parent or child, by right of succession ab intestato. |
[Section 48B inserted by section 15 of Act No. 65 of 1968]